He’s never run a company, had a board of directors, a horde of shareholders, thousands of employees and he certainly doesn’t know, anyone who does. Profitability is extremely difficult to achieve and maintain. Customers are difficult to obtain and maintain. Shareholders are difficult to obtain and maintain. Employees are difficult to obtain and maintain. Credit capacity is difficult to obtain and maintain – at least until you obtain access to the stock market. In every generation there is a google, facebook, apple, microsoft, and within three generations they are gone. Workers have the same power in a company shareholders do: departure (starve the business). The problem is that employee contribution to the business’ survival are distributed by a power law. The CEO almost always being the most important of them.
Google is an outlier that won’t survive the first company that invents a recursive search that provides the person with what he wants – because the opportunity to advertise decreases with getting the answer you want. Microsoft was an outlier that lost its position because the government forced out its CEO. Apple survived only by hiring back the CEO it had fired.
In every company, someone or some group, knows the answer to any problem the business faces. But it might be financially, politically, memetically, impossible to reorganize – because it means all those people entrenched in jobs. Mondragon is a dishonest (false) example: they produce niche products in small volume, in a remote, poor, location. Many employees are not franchise holders. Only a minority of employees are involved in management. The workers do not collectively decide. They bubble information upward. (I’m calling the speaker a liar by the way.) All successful companies take in employee feedback.
Marx caused 100M dead seeking stability. The Abrahamic revolution in the ancient world created judaism, christianity, islam and a thousand year dark age. Stability is a bad thing. Look at the developmental history of China and India. Look what intellectual and cultural stability did to Islamic civilization: five great civilizations of the ancient world were reduced to genetic, cultural, artistic, technological, and social, ashes. Marx (pseudoscience), Freud (pseudoscience), Boas (pseudoscience), Adorno (pseudoscience), Friedan (pseudoscience), Derrida (sophism), Rand/Rothbard (sophism). We don’t study marx not because we are afraid, but because it has failed in every single instance – and yes we know why. So the First Generation of Jewish Abrahamic Thought caused 1Billion dead, five great civilizations, a thousand year dark age. And this second Generation of Jewish Abrahamic Thought caused 100M dead so far, and is in no small part responsible for the collapse of european civilization and it’s attempt at dragging the world out of ignorance and poverty. Europe only stagnated during the dark age of christian (lying) stability.
Western Contractualism, rule of law, sovereignty, and reciprocity, made possible Western Capitalism, which dragged humanity kicking and screaming out of ignorance, superstition, hard labor, poverty, starvation, disease, suffering, child mortality, early death, tyranny, and vicissitudes of a nature all but hostile to advanced life. In the ancient world, greek reason, roman administration and in the modern world, germanic empiricism and administration. There is no failure of a capitalist system. It’s what dragged humanity – all of it now – out of poverty. Period.
Now, it’s not false that we should pursue nationalist policies so that consumption does not so exclusively drive economic behavior. It’s not true that worker opinion about governance is worth anything. There isn’t much evidence of it. I mean, it’s kind of surprising we don’t make advocacy of this kind of nonsense illegal – or any other religion, sophism, or pseudoscience.
Every downturn is a GOOD thing, just as europe’s, india’s and china’s wars were a good thing.
It’s called evolution.
Evolve or die.